Tag: mortgage
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Canadian Banks Begin Circumventing Mortgage Stress Test
A new mortgage stress test? Don’t bother me with those peasant details. After Canada’s property bubble attracted global criticism, they announced tighter mortgage lending. On April 8, the Office of the Superintendent of Financial Institutions (OSFI) said they would make the stress test harder. By the following Monday, the first bank launched a pilot mortgage…
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MONTHLY MORTGAGE UPDATE – MAY 2021 (EARLY)
Recent mortgage rule changes There had been speculation that the government would act to cool the hot housing market, but the industry saw only modest measures in the April 19 federal budget. A national annual tax on foreign-owned properties that are left vacant or under-occupied was announced, which will take affect in 2022. This will…
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Fixed or Variable – Guest Post by Arlen Dahlin
MORTGAGE DECISIONS FOR INVESTORS – 5 YEAR FIXED OR VARIABLE?? 🤷♂️ I have been asked this question many times lately. HISTORICALLY, IS IT FIXED MORTGAGES OR VARIABLE RATE MORTGAGES THAT HAS SAVED BORROWS THE MOST IN INTEREST EXPENSE? Answer: Variable rate mortgages! * I have ALL my single-family property mortgages on variable rates, I have…
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Guest Post: Deferral-gate? (by Ephraim Vecina)
Originally posted here. A housing inventory surge will likely precede a predicted arrears spike once payment deferrals end, according to a Better Dwelling analysis. With the total balance of mortgage payment deferrals reaching $247 billion as of the end of the second quarter, Canadians have come to heavily rely on lenders’ deferral options to stave…
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Guest Post – Marshall Tully (Mortgage Broker) – Deferrals and More
By Marshall Tully – Mortgage Broker Check him out HERE Or BOOK A CALL Mortgage Deferrals and 10 more timely tips I hope you and your family are enjoying good health and finding some measure of happiness in this strange spring. Certainly, many Canadians are feeling the financial pressures mount as we work together to…